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					</table><p><a href="https://www.mercomindia.com/sjvn-trade-irecs-hydropower-project-himachal/" target="_blank" rel="noopener"><strong>SJVN has issued a letter of award to EKI Energy Services, a carbon credits developer and supplier, for registering, issuing, purchasing, and trading the International Renewable Energy Certificate (I-RECs) for the 1,500 MW Nathpa Jhakri Hydro Power Station.</strong></a> The large-scale Nathpa Jhakri Hydroelectric Station is estimated to generate 5.75 million MWh annually and 5.75 million I-RECs. The net selling price after the deduction of all expenses is $0.20/IREC, and the revenue from the project is expected to be ₹100 million (~$1.2 million) per annum.</p>
<p><a href="https://www.mercomindia.com/shakti-pumps-solar-pumps-in-maharashtra/" target="_blank" rel="noopener"><strong>Shakti Pumps, a company in the field of water pumping systems, secured a Letter of Empanelment from the Maharashtra State Electricity Distribution Company Limited to provide 50,000 off-grid solar photovoltaic water pumping systems across Maharashtra.</strong></a> The order comes under Component-B of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan program Phase-III. The project is valued at ₹16.03 billion (~$192.4 million), which includes GST, and is slated for completion within 24 months.</p>
<p><a href="https://www.mercomindia.com/us-strengthen-power-grid-integrate-clean-energy/" target="_blank" rel="noopener"><strong>The U.S. Department of Energy earmarked $3.46 billion for 58 projects spanning 44 states aimed at fortifying the resilience and reliability of the nation’s electric grid</strong>.</a> The initiatives, underpinned by the Bipartisan Infrastructure Law, will leverage a total investment of over $8 billion from both federal and private sources. The overarching goal is to provide affordable, clean electricity to all Americans and ensure that communities nationwide have a dependable grid capable of withstanding extreme weather events, increasingly exacerbated by the climate crisis. The projects will collectively facilitate the introduction of more than 35 GW of new renewable energy capacity and the establishing of 400 microgrids.</p>
<p><a href="https://www.mercomindia.com/tesla-net-income-falls-q3-23/" target="_blank" rel="noopener"><strong>U.S.-based electric vehicle maker Tesla reported a net income of $2.3 billion in the third quarter of the financial year 2023, a 36% year-over-year decline.</strong></a> The decrease is primarily attributed to deliberate price reductions of electric vehicles aimed at stimulating sales, which, although successful in boosting sales volumes, also eroded the company’s profit margins. Additionally, elevated operating expenses, driven by projects such as the Cybertruck, advancements in artificial intelligence, and various other research and development initiatives, further contributed to the decline in net income.</p>
<p><a href="https://www.mercomindia.com/qcells-north-solar-module-facility-to-5-1-gw/" target="_blank" rel="noopener"><strong>Solar cell and module manufacturer Qcells announced the completion of its expansion at its solar panel manufacturing facility in Dalton, Georgia, adding 2 GW of new capacity and bringing the factory’s total output to over 5.1 GW.</strong></a> The company said the Dalton facility is now the largest solar manufacturing plant in the Western Hemisphere and the first solar panel factory to be built since the passage of the Inflation Reduction Act. This expansion increases production capacity and introduces two new solar products: the Q.TRON G2 residential solar panel and a bifacial panel tailored for the commercial and utility sectors.</p>
<p><a href="https://www.mercomindia.com/eu-states-approve-new-boost-renewables-deployment/" target="_blank" rel="noopener"><strong>The European Council agreed upon a proposal to amend the European Union’s electricity market design, aiming to make electricity prices less dependent on volatile fossil fuel prices and accelerate the deployment of renewable energies.</strong></a> By boosting the market for power purchase agreements and generalizing two-way contracts for difference (CfDs), this reform will steady the steady long-term electricity markets. Two-way CfDs would apply to investments in new power-generating facilities based on wind, solar, geothermal, hydropower without reservoir, and nuclear energy. This would provide predictability and certainty.</p>


Daily News Wrap-Up: SJVN to Trade I-RECs from 1.5 GW Hydropower Project


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					</table><p><a href="https://www.shaktipumps.com/" target="_blank" rel="noopener">Shakti Pumps</a>, a company in the field of water pumping systems, has secured a Letter of Empanelment from the Maharashtra State Electricity Distribution Company Limited (<a href="https://www.mahadiscom.in/en/home/" target="_blank" rel="noopener">MSEDCL</a>) to provide 50,000 off-grid solar photovoltaic water pumping systems across Maharashtra.</p>
<p>The order comes under Component-B of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) program Phase-III.</p>
<p>The project is valued at ₹16.03 billion (~$192.4 million), which includes GST, and is slated for completion within 24 months.</p>
<p>The PM-KUSUM program aims to address critical challenges related to energy, agriculture, and water resources.</p>
<p>Mr Dinesh Patidar, Chairman of Shakti Pumps, said, &#8220;This move will relieve DISCOMs of the burden of subsidy loss. Farmers who applied for and were awaiting an electrical connection will be upgraded to solar pumps as part of this effort. These farmers relied on diesel pumps for irrigation or only grew one crop, depending on the season. These farmers can now farm all year without worrying about water while also increasing agricultural productivity with micro-irrigation techniques, in line with the &#8216;Per Drop More Crop&#8217; philosophy.&#8221;</p>
<p>Solar pumps form an integral part of the approach to water resource management in the agricultural sector. By harnessing the power of solar energy, these systems provide a reliable and eco-friendly solution for farmers. They enable them to draw water for irrigation, livestock, and domestic use, thus reducing their dependence on traditional grid-based electricity.</p>
<p>Recently, Shakti Pumps <a href="https://www.mercomindia.com/shakti-pump-work-order-pm-kusum" target="_blank" rel="noopener">received</a> a letter of award from the Uttar Pradesh Department of Agriculture to supply, install, and commission 10,000 solar pumps under the Component B PM-KUSUM program.</p>
<p>Minister of Power R.K. Singh <a href="https://www.mercomindia.com/over-200000-farmers-pm-kusum-power-minister" target="_blank" rel="noopener">told</a> Parliament that the PM-KUSUM program has benefited over 200,000 farmers as of February 28, 2023. A solar capacity of 89.45 MW has been installed under Component-A of the program. Approximately 209,000 pumps have been reported as installed or solarized under Component-B and Component-C. The total installed solar capacity under the program stood at 1.14 GW.</p>
<p>The Ministry of New and Renewable Energy (MNRE) conducted a third-party evaluation of the program, after which it was extended until March 31, 2026.</p>
<p>The Ministry also decided to <a href="https://cms.mercomindia.com/extends-dcr-waiver-solar-cells-kusum/" target="_blank" rel="noopener">extend</a> the waiver of the domestic content requirement for solar cells used for projects under the program until March 31, 2024.</p>
<p>The Ministry <a href="https://www.mercomindia.com/government-final-extension-solar-kusum" target="_blank" rel="noopener">granted</a> a final extension to solar projects pending installation under Component A of the program to September 30, 2023, citing the difficulties faced by farmers in accessing finance during the initial phase.</p>


Shakti Pumps to Supply 50,000 Solar Pumps in Maharashtra


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					</table><p><a href="https://www.mercomindia.com/nhpc-invites-bids-for-renewable-ists-connected-projects" target="_blank" rel="noopener"><strong>NHPC has invited bids for selecting project developers to supply 1.5 GW of ‘firm and dispatchable’ renewable power from inter-state transmission system-connected projects</strong></a> coupled with energy storage systems anywhere in India. The last date for the submission of bids is November 17, 2023. Bids will open on November 20. The bidders have the flexibility to choose any location within India for their projects.</p>
<p><a href="https://www.mercomindia.com/ajmer-discom-solar-pump-supply-shakti-pumps" target="_blank" rel="noopener"><strong>Shakti Pumps has bagged a ₹1.49 billion (~$17.9 million) contract from Ajmer Vidyut Vitran Nigam to supply, install, and commission solar water pumps under Component C of the Pradhan Mantri Kisan</strong></a> Urja Suraksha evam Utthan Mahabhiyan program. The project entails replacing existing grid-connected alternating current pumps with advanced brushless direct current pumps, which will operate using electricity generated from solar while supplying excess power to the grid.</p>
<p><strong><a href="https://www.mercomindia.com/ntpc-bids-land-transmission-2-gw-solar-projects" target="_blank" rel="noopener">NTPC Renewable Energy, a wholly-owned subsidiary of NTPC, has invited bids for land and extra high voltage (EHV) transmission system package for the development of up to 2 GW of interstate</a></strong> transmission system (ISTS)-connected solar power projects in Rajasthan (Tranche-III). The successful bidder must also manage the operation and maintenance of the EHV transmission line and terminal bay at the ISTS end for three years from the project commissioning date. The last date to submit the bids is November 14, 2023. Bids will be opened on the same day.</p>
<p><a href="https://www.mercomindia.com/policy-uniformity-meeting-net-zero-skf-interview" target="_blank" rel="noopener"><strong>In an exclusive interview with Mercom India, Ranjan Kumar, Director – Ethics, Legal, Sustainability and Corporate Affairs, SKF India and Southeast Asia, talks about the company’s net-zero strategy and green energy initiatives</strong></a>. He speaks about the company’s motivation to switch to renewables to meet its energy demands and how uniform power sourcing and generation policies across the country could drive renewable adoption among corporates.</p>
<p><a href="https://www.mercomindia.com/hyderabads-housing-rooftop-solar-project" target="_blank" rel="noopener"><strong>A residential complex, My Home Vihanga, in Hyderabad, has floated a tender to develop a 500-kW grid-connected rooftop solar power project in Gachibowli.</strong></a> The project will fall under the Ministry of New and Renewable Energy’s rooftop solar grid-connected program facilitated by the Telangana State Renewable Energy Development Corporation. The last date for the submission of bids is October 15, 2023. Bids will be opened the next day.</p>
<p><a href="https://www.mercomindia.com/slash-renewable-generation-obligation-coal-plants" target="_blank" rel="noopener"><strong>The Ministry of Power has proposed slashing the Renewable Generation Obligation (RGO) for coal or lignite-based power generating stations to a minimum of 6-10% from the previous 40%.</strong></a> The ministry issued a draft notification on RGO to establish a minimum requirement for electricity generation from renewable sources for coal or lignite-based power generating stations. Earlier rules mandated that coal or lignite-based generating stations beginning operation on or after April 1, 2023, must either establish or procure renewable energy equal to 40% of their thermal generation capacity.</p>
<p><a href="https://www.mercomindia.com/nlc-wins-auction-to-develop-810-mw-solar-project-in-rajasthan" target="_blank" rel="noopener"><strong>Government-owned NLC India has won the bid to develop an 810 MW solar project from Rajasthan Rajya Vidyut Nigam Limited (RRVUNL).</strong></a> RRVUNL issued the tender to develop the 810 MW solar project in December 2022. NLC quoted a tariff of ₹2.64 (~$0.03)/kWh to win the auction. A letter of intent for the same was issued by RRVUNL. The project is part of RRVUNL’s 2 GW Ultra Mega Solar Park in the Pugal Tehsil of Bikaner District, Rajasthan.</p>
<p><a href="https://www.mercomindia.com/jodhpur-discom-150-mw-solar-kusum" target="_blank" rel="noopener"><strong>Jodhpur Vidyut Vitran Nigam has invited bids to develop 66 solar power projects with an aggregate capacity of 150.26 MW under Component-C of the Pradhan Mantri Kisan Urja Suraksha</strong></a> evem Utthan Mahabhiyan program in Bawari and Hatundi subdivisions of Mathania Division under Jodhpur Circle. The successful bidder must oversee the project’s operation and maintenance for 25 years. They will also have to provide a remote monitoring system.</p>


Daily News Wrap-Up: NHPC’s Tender for 1.5 GW Renewable Power Supply


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					</table><p><a href="https://www.shaktipumps.com/" target="_blank" rel="noopener">Shakti Pumps</a> has bagged a ₹1.49 billion (~$17.9 million) contract from <a href="https://energy.rajasthan.gov.in/avvnl/" target="_blank" rel="noopener">Ajmer Vidyut Vitran Nigam</a> to supply, install, and commission solar water pumps under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-KUSUM) program.</p>
<p>The project entails replacing existing grid-connected alternating current pumps with advanced brushless direct current pumps, which will operate using electricity generated from solar while supplying excess power to the grid.</p>
<p>The company must supply the pumps within the next nine months and oversee the project&#8217;s comprehensive maintenance for five years.</p>
<p>&#8220;This action changes &#8216;Annadata&#8217; (food providers) into &#8216;Urjadata&#8217; (energy providers). DISCOM would cover its pump set cost of ₹1 million (~$12,013) in five years by saving up to ₹200,000 (~$2,402) in yearly energy bills, while farmers may earn up to ₹50,000 (~$600) per year and up to ₹250,000 (~$3,003) in five years by selling excess power to DISCOM. Overall, it gives farmers more control over their lives, improves irrigation capacity, and lessens dependency on conventional energy sources, resulting in energy security for farmers across India,” said Dinesh Patidar, Chairman of Shakti Pumps.</p>
<p>The company manufactures energy-efficient pumps and motors and provides various renewable energy solutions, primarily for the agriculture sector. It has a manufacturing facility with an installed capacity of 500,000 pumps per annum in Pithampur, Madhya Pradesh.</p>
<p>Component C, also known as Feeder Level Solarization, plays a pivotal role in the PM KUSUM program, with its objective to solarize 15 lakh grid-connected agriculture pumps by March 31, 2026.</p>
<p>In September, Shakti Pumps <a href="https://www.mercomindia.com/shakti-pump-work-order-pm-kusum/" target="_blank" rel="noopener">received</a> an order from the Uttar Pradesh Department of Agriculture to supply, install, and commission 10,000 solar pumps under Component B of the PM-KUSUM program. The total value of this work order was $ 2.93 billion (~$35.3 million).</p>
<p>Minister of Power R.K. Singh <a href="https://www.mercomindia.com/over-200000-farmers-pm-kusum-power-minister" target="_blank" rel="noopener">told</a> Parliament that the PM-KUSUM program has benefited over 200,000 farmers as of February 28, 2023. A solar capacity of 89.45 MW has been installed under Component-A of the program. Approximately 209,000 pumps have been reported as installed or solarized under Component-B and Component-C. The total installed solar capacity under the program stood at 1.14 GW.</p>
<p>The Ministry of New and Renewable Energy conducted a third-party evaluation of the PM KUSUM program, and following its recommendations, the program has been extended until March 31, 2026.</p>
<p>Last month, the Ministry also decided to <a href="https://cms.mercomindia.com/extends-dcr-waiver-solar-cells-kusum/" target="_blank" rel="noopener">extend</a> the waiver of the domestic content requirement for solar cells used for projects under Component C of the PM-KUSUM program until March 31, 2024.</p>


Ajmer DISCOM Awards ₹1.49 Billion Solar Pump Supply Contract to Shakti Pumps


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					</table><p><a href="https://www.shaktipumps.com/" target="_blank" rel="noopener">Shakti Pumps</a> has received a letter of award from the Uttar Pradesh <a href="https://upagripardarshi.gov.in/Index.aspx" target="_blank" rel="noopener">Department of Agriculture</a> to supply, install, and commission 10,000 solar pumps under Component B of the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-KUSUM) program.</p>
<p>The total value of the work order amounts to ₹2.93 billion (~$35.3 million).</p>
<p>The order must be executed within 90 days from the issuance of the work order.</p>
<p>Shakti Pumps is a manufacturer of energy-efficient pumps and motors and provides a variety of renewable energy solutions, primarily for the agriculture sector. The company has a manufacturing facility with an installed capacity of 500,000 pumps per annum in Pithampur, Madhya Pradesh.</p>
<p>Component B plays a pivotal role in the PM KUSUM program, with its objective to install 2 million standalone solar-powered agriculture pumps of individual pump capacity up to 7.5 horsepower by March 31, 2026.</p>
<p>Minister of Power R.K. Singh <a href="https://www.mercomindia.com/over-200000-farmers-pm-kusum-power-minister" target="_blank" rel="noopener">told</a> Parliament that the PM-KUSUM program has benefited over 200,000 farmers as of February 28, 2023. A solar capacity of 89.45 MW has been installed under Component-A of the program. Approximately 209,000 pumps have been reported as installed or solarized under Component-B and Component-C. The total installed solar capacity under the program stood at 1.14 GW.</p>
<p>The Ministry of New and Renewable Energy (MNRE) conducted a third-party evaluation of the PM KUSUM program, and following its recommendations, the program has been extended until March 31, 2026.</p>
<p>The Ministry also decided to <a href="https://cms.mercomindia.com/extends-dcr-waiver-solar-cells-kusum/" target="_blank" rel="noopener">extend</a> the waiver of the domestic content requirement for solar cells used for projects under Component C of the PM-KUSUM program until March 31, 2024.</p>
<p>The Ministry <a href="https://www.mercomindia.com/government-final-extension-solar-kusum" target="_blank" rel="noopener">granted</a> a final extension to solar projects pending installation under Component A of the program to September 30, 2023, citing the difficulties faced by farmers in accessing finance during the initial phase.</p>
<p>In May last year, in order to support the projects under the KUSUM program, the MNRE <a href="https://mercomindia.com/separate-bank-guarantee-not-needed-for-kusum-projects/" target="_blank" rel="noopener">scrapped</a> the need for a separate performance bank guarantee for solar projects to be set up under Component A of the program.</p>


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